Renaissance Technologies LLC Invests $6.67 Million in PJT Partners Inc. $PJT

Renaissance Technologies LLC acquired a new position in PJT Partners Inc. (NYSE:PJT) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 47,700 shares of the financial services provider’s stock, valued at approximately $6,665,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its position in PJT Partners by 11.1% during the first quarter. Public Employees Retirement System of Ohio now owns 59,841 shares of the financial services provider’s stock worth $8,361,000 after acquiring an additional 5,973 shares during the last quarter. Klingman & Associates LLC increased its stake in shares of PJT Partners by 106.9% during the 1st quarter. Klingman & Associates LLC now owns 14,233 shares of the financial services provider’s stock worth $1,989,000 after purchasing an additional 7,353 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of PJT Partners during the 1st quarter worth approximately $310,000. Gibbs Wealth Management raised its position in shares of PJT Partners by 90.4% during the 1st quarter. Gibbs Wealth Management now owns 9,177 shares of the financial services provider’s stock worth $1,282,000 after purchasing an additional 4,358 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of PJT Partners by 331.0% during the 1st quarter. Sei Investments Co. now owns 57,283 shares of the financial services provider’s stock worth $8,004,000 after purchasing an additional 43,993 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

PJT Partners Stock Performance

Shares of PJT opened at $171.23 on Wednesday. PJT Partners Inc. has a 1 year low of $127.73 and a 1 year high of $195.62. The company’s 50 day simple moving average is $160.18 and its 200 day simple moving average is $156.15. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 23.42 and a beta of 0.84.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.40. PJT Partners had a return on equity of 32.66% and a net margin of 10.57%.The company had revenue of $486.29 million during the quarter, compared to the consensus estimate of $425.28 million. During the same period in the previous year, the firm posted $1.54 EPS. PJT Partners’s revenue was up 19.5% on a year-over-year basis. Equities analysts expect that PJT Partners Inc. will post 8 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.6%. The ex-dividend date is Wednesday, September 2nd. PJT Partners’s dividend payout ratio is presently 13.68%.

Analysts Set New Price Targets

A number of equities research analysts have commented on PJT shares. Keefe, Bruyette & Woods increased their target price on PJT Partners from $185.00 to $195.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Wall Street Zen raised PJT Partners from a “hold” rating to a “buy” rating in a report on Saturday. UBS Group restated a “neutral” rating and issued a $176.00 price objective on shares of PJT Partners in a research report on Wednesday, July 29th. BMO Capital Markets increased their price objective on PJT Partners from $183.00 to $194.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of PJT Partners in a research report on Friday, May 29th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, PJT Partners currently has a consensus rating of “Hold” and a consensus price target of $177.50.

Insider Buying and Selling

In related news, Director Grace Reksten Skaugen sold 1,283 shares of the stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $167.67, for a total transaction of $215,120.61. Following the transaction, the director directly owned 500 shares in the company, valued at approximately $83,835. This represents a 71.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 10.98% of the company’s stock.

PJT Partners Company Profile

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm’s dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.